Q: How to I divide undivided interest before the estate gets passed down to my generation?
When my grandmother passed away, she left the family land to my cousins and I as undivided interest. Once all of her children pass away, the land is divided among the 12 of us. Her children no longer want to deal with the execution of the estate. How can I guarantee a portion of the property comes to me so that I can start living on it before the land actually gets passed down? We live in Texas. Thanks in advance.
A: That sounds like a Life Estate to her Children, then Remainder over to the 12 or their heirs. But I am not reading the Deed or the Probated Will of GrandMother. Hire a competent attorney to search the title, determine what exact type of conveyance it is, then draft a Quit Claim Deed for all the others with interests that do not want the property to convey it over to you. Remember someone has to pay taxes, and the taxpayer may not get reimbursed.
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